NexGenix Pharmaceuticals Presents Data on a Novel Small Molecule
Inhibitor of Heat Shock Protein 90 (Hsp90) at the Annual Meeting of
the American Association for Cancer Research (AACR); Scientific
Advisory Board Chairman Tyler Jacks Named President-elect of AACR

NEW YORK, April 16, 2008 /PRNewswire/ -- NexGenix
Pharmaceuticals, presented data on its Hsp90 inhibitor program
today at the Annual Meeting of the AACR in San Diego today. The
company presented data in the experimental therapeutics session on
NXD30001, one of several novel, radicicol-based Hsp90 inhibitors in
its compound series.

NXD30001 demonstrated efficacy in breast cancer tumor xenograft
models without evidence for liver and kidney toxicity. The potency,
tolerability, pharmacokinetic and pharmacodynamic properties of
NXD30001 and its derivatives indicate that it, or an analog, may be
useful in the treatment of breast and other forms of cancer with an
improved dosing and therapeutic window compared to 17AAG, the
first-in-class Hsp90 inhibitor currently in Phase 2 clinical trials
for cancer.

The compound series appears to bind Hsp90 in a different mode
than 17AAG or radicicol and exhibit higher affinity to Hsp90 than
radicicol. NXD30001 and its analogs efficiently inhibit cell
proliferation and deplete multiple Hsp90 client proteins such as
Her2, Akt, c-Raf, Cdk4, and Cyclin D1 in Her2-overexpressing breast
and other cancer cell lines at low nanomolar concentrations.
Pharmacokinetic studies demonstrate that NXD30001 can achieve
potential therapeutic levels via intraperitoneal (i.p.) dosing and
that the compound accumulates in tumors at above micromolar
concentrations.

Tumor pharmacodynamic analysis demonstrated depletion of
multiple Hsp90 client proteins, including Her2, after a single
dose; these client proteins remained undetectable for more than 2
days, consistent with the pharmacokinetic tumor data.

"A number of analogs with activity similar to or better than
NXD30001 have been synthesized and are being evaluated for oral
bioavailability, tolerability, and efficacy," stated Allan
Rubenstein, MD, CEO of NexGenix. "Our intent is to progress an i.v.
formulation of NXD30001 into IND-enabling studies for breast
cancer, and to develop an oral formulation from the series for
neural tumors, such as those found in Neurofibromatosis Type 2, and
for neurodegenerative disorders."

Tyler E. Jacks, PhD, director of the David H. Koch Institute for
Integrative Cancer Research at and Chairman of the Scientific
Advisory Board of NexGenix, was named President-Elect of the AACR
at the meeting yesterday. Dr. Jacks has previously served in
several leadership positions for the AACR, including the Board of
Directors and the Nominating Committee. He serves on the editorial
board of Molecular Cancer Therapeutics and was a senior editor of
Molecular Cancer Research. He is a previous recipient of the AACR
Award for Outstanding Achievement in Cancer Research.

About NexGenix Pharmaceuticals

NexGenix Pharmaceuticals is a US-based biotechnology company
developing a novel Hsp90 inhibitor series for cancer, neural tumors
and neurodegenerative disorders. NexGenix has assembled a team of
top scientific advisors in cancer research, Hsp90 inhibitors and
medicinal chemistry. The company's lead Hsp90 compound, NXD30001,
is in preclinical development for breast cancer.

For more information, please visit the NexGenix website at
www.nexgenixpharm.com. The
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